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Lumber prices to the moon 🚀 - WTT [newsletter]

0 1 7 minutes read Welcome to the WHAT THE TRUCK?!? newsletter. In this issue, skyrocketing lumber prices, where’s the Tesla Semi, two brokerage bankruptcies and more. Will it fall under $3? SONAR Downhill skiing in spring The Truckstop.com seven-day dry van rate per mile continues its three-plus-weeklong slide, falling another 4 cents to $3.04. Although rates are declining, both freight volumes and capacity have remained stable. According to the Outbound Tender Reject Index in SONAR, carriers are still rejecting more than 1 in 4 loads.  “Spot rates were roughly 30% to 70% higher year-over-year throughout the first quarter. Rates are 80% higher in the latest week.” FreightWaves’ Human capital With drivers still in short supply, carriers are having to increase wages by as much as 20% in some cases to help fill the seats. According to TCA data, insurance costs as a percentage of revenue jumped 16% in the first two months of ’21. Some analysts have looked at th

This could be the hottest summer ever — for freight

This could be the hottest summer ever for freight Inbound TEU bookings are set to exceed 2020 peak by nearly 8% this week 0 6 3 minutes read Chart of the Week:  Inbound Ocean TEU Volume Index , Van Outbound Tender Volume Index – USA SONAR:IOTI.USA, VOTVI.USA The Inbound Ocean TEU Volume Index (IOTI), which measures maritime bookings for twenty-foot equivalent units for U.S. imports, is set to hit an all-time high this week. The IOTI starts in January 2019 but  covers one of the most active periods in maritime shipping thanks to the pandemic. With imports being tied more closely than ever to surface freight volumes and transportation demand, this could be a signal of an extremely active summer for domestic surface transportation providers.

Increasingly difficult yearly comps are a distraction; the market is rolling

Increasingly difficult yearly comps are a distraction; the market is rolling 561 7 minutes read Last week’s DHL Supply Chain Pricing Power Index: The FreightWaves The Pricing Power Index is based on the following indicators: Load volumes: Absolute levels positive for carriers, momentum neutral The freight markets have reentered “chaos is business as usual” territory. There has been very little change to any of the major indices this week as the Outbound Tender Volume and Reject Indices have both walked along the x-axis for two weeks now. Since the winter blizzard disruption, tender volumes took a leg up and have remained elevated since. We seem to be near the natural peak in tender volumes (and rejections), but the spring freight season is upon us. 

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